Hello Everyone,
My wife and and I have 4 life insurance policy we bought when we first got married. They now have a fairly large cash value. I am think of getting rid of the policy.
My wife has been out of work for almost a year now and while are cash saving is no where near zero. I think getting rid of the policy make sense.
I would like to take the money and buy Vandguard Total Bond Index. This would give us a little extra income plus knock $100 off our monthly epenses. I plan to use the income to pay down debt qucker.
My wife has suggested we just use the money to pay down debt directly. I like the idea of this but am affraid that it may take away future flexiblilty.
Which stradgie is better mine or my wife? Alsoare there any reason I should not cash in my policy?
Any suggestion or comments would be greatly appreciated.
My wife and and I have 4 life insurance policy we bought when we first got married. They now have a fairly large cash value. I am think of getting rid of the policy.
My wife has been out of work for almost a year now and while are cash saving is no where near zero. I think getting rid of the policy make sense.
I would like to take the money and buy Vandguard Total Bond Index. This would give us a little extra income plus knock $100 off our monthly epenses. I plan to use the income to pay down debt qucker.
My wife has suggested we just use the money to pay down debt directly. I like the idea of this but am affraid that it may take away future flexiblilty.
Which stradgie is better mine or my wife? Alsoare there any reason I should not cash in my policy?
Any suggestion or comments would be greatly appreciated.